Key regions: Australia, Italy, France, South Korea, Brazil
The demand for vaccines in Benin has been on the rise in recent years, driven by various factors such as population growth, government initiatives, and disease outbreaks.
Customer preferences: Benin's population has been growing steadily, leading to an increase in demand for vaccines. This growth, coupled with the government's efforts to improve healthcare, has resulted in a greater awareness of the importance of vaccination among the population. Additionally, disease outbreaks have created a sense of urgency among customers to get vaccinated, leading to an increase in demand.
Trends in the market: The vaccines market in Benin has been growing steadily in recent years, driven by the government's efforts to improve healthcare. The government has been investing in the healthcare sector, including the procurement of vaccines, to ensure that the population has access to quality healthcare. Furthermore, the government has been working with international organizations to provide vaccines to vulnerable populations, such as children and pregnant women.
Local special circumstances: Benin faces several challenges in the vaccines market, including a lack of infrastructure and resources. The country has a limited healthcare budget, which makes it difficult to invest in the necessary infrastructure and resources to support a robust vaccines market. Additionally, the country faces logistical challenges in distributing vaccines to remote areas, which can hinder access to vaccines for some populations.
Underlying macroeconomic factors: Benin's economy has been growing steadily in recent years, with a focus on agriculture and trade. However, the country still faces significant challenges, including high poverty rates and a lack of infrastructure. These challenges can impact the vaccines market, as customers may not have the financial resources to pay for vaccines or access to healthcare facilities. Additionally, the country's reliance on agriculture and trade can make it vulnerable to external shocks, which can impact the vaccines market.
Data coverage:
Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.Modeling approach / Market size:
Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.Additional notes:
Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.
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